N.S.W. RAILWAYS
NEW SCHEME OF FINANCING United Press Assn, by El. Tel. Copyright (Received Ffcb. 9. 9.5 p-m.) SYDNEY, Feb. 5. Tho State Treasurer foreshadows u, new basis of control, by which the State railways will be- able to raise their own loans and issue their own securities. Mr Stevens says Canada s favorable position on tho loan market i’s duo to that .Dominion’s railways being on a business looting, indonpendont of the Treasury. In the course of a reply to a country deputation, asking ior elctrification and other development in the train services, the cost ot which would he between £25,000,000 and £30,000,(X)0, Mr Stevens said the stringency of tlie money market precluded hope of these things being done at present. Unless they adopted the Canadian system, it would he impossible to obtain finance to meet railway needs.
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Bibliographic details
Gisborne Times, Volume LXX, Issue 11127, 10 February 1930, Page 5
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139N.S.W. RAILWAYS Gisborne Times, Volume LXX, Issue 11127, 10 February 1930, Page 5
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